secwatch.observer — SEC 8-K summary
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Issuer:     VerifyMe, Inc. (VRME)
CIK:        0001104038
Form:       8-K
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0001214659-23-003433
Event type: m_and_a
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VerifyMe acquires Trust Codes assets for ~$1M in cash and stock
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- Total consideration ~$1M: $350k cash plus 353,492 restricted shares at $1.84/share.
- Earnout over 5 years: 18% of gross margin on existing customers (cash) and 20% on new customers (equity).
- Trust Codes provides cloud-based brand protection, data intelligence, and consumer engagement for food/agri.
- Acquisition strengthens VerifyMe's traceability services and expands geographic reach to Australasia and China.
- Trust Codes has recurring revenue and employees in New Zealand and Australia.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1104038/000121465923003433/0001214659-23-003433-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1104038/000121465923003433/d2282318k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-23-003433

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer